Dollar Mixed In Trading Against Southeast Asian Currencies Late Sunday, Monday, May 21, 2007 2:12:53 AM
The US dollar saw a mixed dealing against the Southeast Asian currencies on late Sunday in New York. While the US dollar made advances versus the Hong Kong dollar, it drifted down against its Singapore and the Malaysian counterparts. On the other hand, the US currency largely held steady with the Thai Baht.The Singapore Q1 GDP data which was released during the session is likely to have an effect on trading in the Greenback versus the Singapore currency. Singapore economy expanded 6.1% on year in the first quarter compared to a 6.6% growth in the prior quarter, the statistics office said. On a seasonally adjusted basis, the annualized growth eased to 7.6% from 7.9% achieved in the December quarter.
To the other major Asian currencies like the Japanese Yen and the Indian Rupee, the US dollar strengthened slightly during the session, but it moved sideways versus the South Korean Won.
As the week`s trading started on late Sunday, the US currency ticked down versus the Singapore dollar. However, at about 8:35 pm ET the pair strengthened slightly but the gains were given back soon after. The Greenback edged further lower into the very early deals on Monday and fetched 1.5227 against the Singapore dollar as of 2:10 am Eastern Time.
The US currency opened this week`s trading with the Hong Kong dollar at 7.8175 against Friday`s close of 7.8182. The Buck trended higher during the late hours and has been continuing its uptrend currently. As of 2:10 am Eastern Time Monday, a Buck traded at 7.8207 against the Hong Kong dollar.
Against the South Korean Won, the US dollar declined slightly on late Sunday evening in New York. The pair started moving sideways at about 8:30 pm ET and extended the same trend into the very early hours on Monday. As of 1:59 am Eastern Time, a dollar was quoted at 930.0000 against the Won.
The US dollar moved sideways versus the Indian Rupee until about 9:20 pm ET Sunday, but the pair made advances thereafter. The dollar thus moved from 40.3000 to 40.7750 by about 11:35 pm ET. Soon after, the dollar slid briefly and collected 40.5150 Rupees as of 2:10 am Eastern Time Monday.
At about 7:15 pm Eastern Time Sunday, the US currency shed a few pips against its Thailand counterpart. However, the pair held steady within a few minutes and has been resuming the same trend of late. As of 2:10 am Eastern Time Monday, a Greenback was worth 32.5950 against the Thai Baht.
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posted by Kalin Tasev @ 2:00 AM
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